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385.1  .  W.SZur\9 


Senate  Bill,  No.  27.] 


[Ses.  1858-'9. 


Introduced  by  Mr.  Edney,  of  Henderson. 


Holden  &  Wilson,  Printers  to  the  State. 


A  BILL  TO  AMEND  THE  ACT  PASSED  AT  THE  SES- 
SION OF  1854,  ENTITLED  AN  ACT  TO  INCORPO- 
RATE THE  WESTERN  NORTH-CAROLINA  RAIL- 
ROAD COMPANY,  AND  THE  AMENDATORY  ACT 
THERETO,  PASSED  AT  THE  SESSION  OF  1856,  EN- 
TITLED AN  ACT  TO  AMEND  AN  ACT  ENTITLED  AN 
ACT  TO  INCORPORATE  THE  WESTERN  NORTH- 
CAROLINA  RAILROAD  COMPANY. 

Sec.  1.   Be  it  enacted  by  the  General  Assembly  of  the 

2  State  of  Worth- Carolina,  and  it  is  hereby  enacted  by  the 

3  authority  of  the  same,  That  so  much  of  the  act  passed  at 

4  the  session  of  1854,  entitled  an  act  to  incorporate  the 

5  Western  North-Carolina  Railroad  Company,  and  an  act 

6  to  amend  the  same,  passed  at  the  session  of  1856,  entitled 

7  an  act  to  incorporate  the  Western  North-Carolina  Rail- 

8  road  Company,  as  provides  that  the  railway  chartered  and 

9  located  under  said  acts,  commencing  at  the  town  of  Salis- 

10  bury,  on  the  North-Carolina  railroad,  and  extending,  the 

11  first  section  or  division,  to  the  town  of  Morganton,  in  the 

12  county  of  Burke,  and  no  further ;  the  second  section  or 

13  division,  extending  from  the  town  of  Morganton  to  some 

14  point  not  more  than  ten  miles  east  of  the  western  portal 

15  of  the  Swanannoa  Tunnel ;  the  third  section  or  division 

16  extending  throughout  said  line  to  the  western  terminus  of 

17  said  road,  on  the  French  Broad  river,  beyond  the  Blue 
jj.  18  Ridge  ;  commencing  at  Salisbury  and  extending  westward 
£  19  to  the  terminus  aforesaid,  shall  be  built  by  sections  or  di- 
rt  20  visions,  and  that  the  second  section  or  divisidn  shall  not 


2  Senate  Bill  No.  27.  [Session 

21  receive  State  aid  till  the  first  section  or  division  is  com- 

22  pleted  and  iu  full  operation,  and  that  the  remaining  con- 

23  secntive  division  of  the  said  railway,  throughout  said  line, 

24  shall  not  be  let  to  contract,  or  commenced,  till  the  second 

25  division  shall  have  been  completed  and  in  full  operation, 

26  be  and  the  same  are  hereby  repealed. 

Sec.  2.  Be  it  further  enacted,  That  for  the  purpose  of 

2  carrying  out  the  provisions  contemplated  in  the  first  and 

3  second  sections  of  the  original  act,  passed  at  the  session  of 

4  1854,  that  the  Board  of  Directors  of  said  Company  are 

5  hereby  authorized  and  empowered  to  locate  and  extend 

6  the  present  location  of  the  said  Western  North- Carolina 

7  Railroad,  from  the  present  terminus  of  said  location,  to 
§  wit :  the  western  portal  of  the  Swananoa  Tunnel  to  the 
9  present  terminus  of  the  "Western  North-Carolina  Railroad 

10  charter,  on  the    French  Broad  river,  thence  along  the 

11  valley  of  said  French  Broad  to  some  point  on  the  Tennes- 

12  see  line,  at  or  near  Paint  Rock,  so  as  to  effect  an  immedi- 

13  ate  and  direct  communication  between  the  Western  North- 

14  Carolina  Railroad  and  the  railways  extending  to  the  val- 

15  ley  of  the  Mississippi ;   and  for  which  purpose  the  present 

16  charter  of  the  Western  North-Carolina  Railroad  is  hereby 

17  extended  from  its  present  terminus,  on  the  French  Broad 

18  river,  in  the  county  of  Buncombe,  along  the  valley  of  the 

19  said  French  Broad  river   to  some  point  on  the  Tennessee 

20  line,  at  or  near  Paint  Rock. 

Sec.  3.  Be  it  further  enacted,  That  whenever  it  shall 

2  appear  to  the  Board  of  Internal  Improvements  of  this  State, 

3  by  a  certificate  under  the  seal  of  said  Company,  signed  by 

4  their  Secretary  and  countersigned  by  their  President,  that 

5  any  sum   or  sums  not   less  than  two  hundred  thousand 

6  dollars  shall  have  been  subscribed  by  solvent  persons, 

7  counties,  or  corporations,  to  the  capital  stock  of  said  Com- 

8  pany,  the  said  Board  of  Internal  Improvements  shall  be 

9  and  they  are  hereby  authorized  and  required,  to  direct  the 

10  Treasurer  of  the  State  to  make  the  further  subscription  on 

11  behalf  of  the  State  for  stock  in  said  Company  double  the 

12  amount  of  the  sum  so  subscribed,  in  the  capital  stock  of 


K 


1858-9.]  Senate  Bill  No.  27.  3 

13  said  Company,  and  so  on  from  time  to  time,  until  the 
*4  whole  sum  of  six  millions,  the  capital  stock  of  said  Com- 
'.15  pany,  shall  have  been  subscribed  ;  provided,  nevertheless, 
<  6  that  the  State  shall  not  be  called  upon,  in  any  one  year,  to 
"J7  pay.  upon  her  subscription  more  than  five  hundred  thou- 
18  sand  dollars. 

Sec.  4.  Be  it  further  enacted,  That  so  soon  as  the  fore- 

2  going  amendments  shall  be  accepted  by  the  private  stock- 

3  holders  of  said  company,  in  a  general  meeting  held  by 

4  them,  to  consider   the   same,  all  such  clauses  in  the  charter 

5  of  said  company,  (and  no  more,)    as  are  in  conflict  with 

6  this  act,  are  hereby  repealed,  and  declared  null  and  void. 

Sec.  "5.  Be  it  further  enacted,  That  if  the  said  com- 

2  pany  shall  accept  the  foregoing  amendments  to  their  char- 

3  ter,  said  acceptance  shall  be  certified  to  the  board  of  In- 

4  ternal    Improvements,  under  the  seal  of  the   company, 

5  signed  by  the  President  and  countersigned  by  the  Secreta- 

6  rj- 

Sec.  6.  Be  it  further  enacted,  That  a  general  meeting 

2  of  the  stockholders  of  said  company,  may  be  held  to  con- 

3  sider  the  foregoing  amendments  immediately  after  the  rat- 

4  ification  of  this  act,  and  the  same  shall  be  in   force  from 

5  and  after  its  acceptance  by  the  private   stockholders  in 

6  general  meeting  assembled. 

Sec.  7.  Be  it  further  enacted^  That  said  "Western  Korth- 

2  Carolina  Railroad  company  shall  be  required  to  pay  the 

3  expenses  incurred  in  the  surveys  made  by  the  Greenville 

4  and  French  Broad  Railroad  company. 

Sec.  8.  Be  it  further  enacted,  That  all  laws  and  clauses 

2  of  laws,  coming  within  the  purview  and  meaning  of  this 

3  act  be,  and  the  same  are  hereby  repealed. 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00042093386 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 

c 


Form  No.  A-368,  Rev.  8/95 


